SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF
The iShares Edge MSCI Min Vol USA Small-Cap ETF tracks an index of US-listed small capitalization stocks selected and weighted to create a low volatility portfolio, subject to constraints including sector exposure.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
281.7 M
ASSETS UNDER MGMT
20 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 07, 2016 |
| Assets (mns) | $282 |
| Expense ratio | 20 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ROYAL GOLD INC | 2.0 % |
| OLD REPUBLIC INTL CORP | 1.7 % |
| AGREE REALTY CORP | 1.7 % |
| PINNACLE WEST CAPITAL | 1.6 % |
| CHEMED CORP | 1.5 % |
| AXIS CAPITAL HOLDINGS LTD | 1.5 % |
| MURPHY USA, INC. | 1.4 % |
| APTARGROUP INC | 1.4 % |
| ENSIGN GROUP INC/THE | 1.4 % |
| OGE ENERGY CORP | 1.4 % |
Constituent Breakdown
| Number of holdings | 279 |
| Herfindahl-Hirschman Index | 74 |
| Wgt avg mkt cap (mns) | $6,285 |
| Large cap (>$10bn) | 18.7% |
| Mid cap ($2-10bn) | 67.9% |
| Small cap (<$2bn) | 11.4% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 84.8 % |
 |
BERMUDA | 3.9 % |
 |
IRELAND | 1.3 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 1.2% | 14.9% | 8.4% | 5.0% | 5.4% | -- | -- | 6.6% |
| Dividend Yield | -1.3% | -3.2% | 2.6% | 0.4% | 6.2% | -- | -- | 1.5% |
| Total Returns | 0.0% | 11.7% | 11.0% | 5.4% | 11.6% | -- | -- | 8.1% | Ann. Volatility | 11.0% | 11.9% | 12.2% | 14.0% | 19.3% | -- | -- | 16.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.68 | 69% |
| MSCI EAFE | 0.62 | 57% |
| MSCI Emg Mkts | 0.41 | 25% |
Liquidity Measures
| Avg. volume (000) | 43 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.11% |
| ADV of underlying (mns) | $7,202 |
Technical Indicators
| Recent close | $40.82 |
| 30d moving avg. | $40.69 |
| Annualized volatility | 14.2% |
| Relative strength (RSI) | 47 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 4.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SMMV |
Expenses vs. SMMV |
ALTAR Score™ vs. SMMV |
|---|---|---|---|---|
| HSMV | First Trust Horizon Managed Volatility Small/Mid ETF | 34.8% | +60 bp | +2.4% |
| SIXL | ETC 6 Meridian Low Beta Equity ETF | 32.2% | +60 bp | +0.2% |
| XMLV | Invesco S&P MidCap Low Volatility ETF | 28.3% | +5 bp | +2.1% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 23.5% | +4 bp | +2.1% |
| IJH | iShares Core S&P Mid-Cap ETF | 23.4% | -15 bp | +2.3% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 23.3% | -10 bp | +2.2% |
| FSMD | Fidelity Small-Mid Multifactor ETF | 23.0% | -5 bp | +1.9% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 22.9% | -17 bp | +2.3% |
| ISCG | iShares Morningstar Small-Cap Growth ETF | 22.7% | -14 bp | -2.8% |
| PAMC | Pacer Lunt MidCap Multi-Factor Alternator ETF | 22.7% | +40 bp | +4.8% |
Risk and Returns: SMMV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/24/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
SMMV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
SMMV
6.0%
Cat. Avg
6.5%
ALTAR Score™ Calculation
Category Overview
There are 953 funds in the US Equity category, with an average ALTAR Score™
of 6.5% and a standard deviation of
2.7%. SMMV's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places SMMV in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SMMVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| SMMV (20 bp) Percentile rank | 21 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SMMV | 20.0 | 10.8 | 30.8 |
| Peer Avg. | 32.3 | 15.1 | 47.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .